Amylyx Pharmaceuticals (NASDAQ:AMLX) Issues Earnings Results, Misses Estimates By $0.06 EPS

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.06), Zacks reports. The business had revenue of ($0.67) million during the quarter.

Amylyx Pharmaceuticals Stock Up 11.6 %

Amylyx Pharmaceuticals stock traded up $0.35 during trading on Wednesday, reaching $3.36. The stock had a trading volume of 749,033 shares, compared to its average volume of 1,812,488. Amylyx Pharmaceuticals has a 52-week low of $1.58 and a 52-week high of $19.42. The stock has a market cap of $230.32 million, a PE ratio of -0.88 and a beta of -0.54. The business has a 50 day moving average price of $3.56 and a 200 day moving average price of $3.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMLX shares. Robert W. Baird raised Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Baird R W raised shares of Amylyx Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Finally, HC Wainwright restated a "buy" rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Wednesday. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.33.

Insider Buying and Selling at Amylyx Pharmaceuticals

In related news, CEO Justin B. Klee sold 7,471 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.04, for a total value of $30,182.84. Following the transaction, the chief executive officer now owns 3,176,788 shares of the company's stock, valued at $12,834,223.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joshua B. Cohen sold 11,851 shares of Amylyx Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.47, for a total value of $41,122.97. Following the sale, the chief executive officer now directly owns 3,201,247 shares of the company's stock, valued at $11,108,327.09. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,169 shares of company stock valued at $97,274. Insiders own 11.70% of the company's stock.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.